What is B2C in E-commerce?
B2C (Business-to-Consumer) is an e-commerce transaction model in which a business sells products or services directly to consumers via an online store or website. It is the most common type of e-commerce model, and it involves businesses offering goods and services to consumers who browse their online websites, mobile apps, or online marketplaces.
Significance of B2C in E-commerce Platform
Business-to-consumer e-commerce is an important part of the online retail industry. It provides an accessible platform for businesses to reach out to consumers, making it easier to purchase goods and services.
- B2C e-commerce offers businesses a wide range of opportunities, allowing them to reach a much wider customer base than traditional brick-and-mortar stores.
- Furthermore, it reduces the cost of running a business, as there are no physical premises to maintain or staff to pay for.
- Additionally, B2C e-commerce provides a platform for businesses to interact with customers, allowing them to better understand their needs and preferences.
- It helps businesses to better tailor their products and services to meet customer expectations.
Prerequisites to a B2C and How It Works
The prerequisites to calculate the B2C business model are –
- Understanding business models to understand the different types of revenue generated
- Understanding different sections of the target market, customer pool, pricing model, and products or services to be sold
- Data analysis, depending on the data collected from databases including sales records, market research, customer reviews and feedback, annual revenue generation, etc.
B2C businesses typically have an online presence, allowing customers to purchase products and services online. Businesses may also offer their products and services through physical storefronts, catalogues, and other traditional sales channels.
Use Case With B2C
The goal of B2C businesses is to build relationships with customers, provide excellent customer service, and drive sales. B2C businesses typically employ a variety of marketing tactics, such as email marketing, content marketing, search engine marketing, and social media marketing, to reach their target audience and generate leads.
A boutique clothing store selling online from Manila and a store-front bookstore are both examples of aB2C type of business.